CEDAR FALLS, Iowa -- Cedar Falls Raceway will be open for business for years to come, as a long term management contract
and ownership option has been signed between track owners Scott Braun and John Deery and Cordova
Dragway Park's Scott Gardner according to broker Track Planning Associates Ron Colson.

"I have always had a soft spot in my heart for CFR" said Gardner, a former native of the Cedarloo
area. "Growing up while working and racing at CFR in the 1980's, it's always been a dream to
operate the facility" he stated. Gardner, born and raised in Waterloo, IA graduated from the
University of Northern Iowa in Cedar Falls before leaving the area to eventually own and operate
Cordova Dragway Park in Cordova, Illinois as well as co-own Eddyville Raceway Park in Oskaloosa,
Iowa.

No stranger to race operations, Gardner took over the dilapidated Cordova Raceway in 1995 and
transformed the facility into the state of the art race facility it is today. "It comes down to
hard work and dedication" said Gardner. "Myself, my wife Laura and my team operate and manage race
events on a full time basis and that is what I believe is needed to make Cedar Falls Raceway
thrive" he concluded.

Work is already underway, to complete a comprehensive 2007 schedule of events along with a strong
bracket racing program, street drags, open fun run events as well as major feature shows. The date
for the 2006 championship awards presentation will be set soon and full details will be
forthcoming. All operations will be handled by Gardner and he can be reached at his Cordova,
Illinois office at 309-654-2110 or by e-mail at mmmcdp@aol.com